The 10 Best ASIC Regulated Forex Brokers Revealed. We have rated and reviewed the Best Forex Brokers regulated by the Australian Securities & Investments Commission.
This is a complete listing of The 10 Best ASIC Regulated Forex Brokers. In this in-depth write-up you will learn:
- What is the Australian Securities & Investments Commission?
- Pros and Cons of ASIC Regulated Service Providers.
- ASIC and its responsibilities.
and much, much more!
10 Best ASIC Regulated Forex Brokers in 2023 – A Comparison
| ? Broker | ? ASIC Regulation | ? Minimum Deposit | ? Spreads (Avg.) | ? Open an Account |
| ? Avatrade | ✅ Yes | $100 USD | 0.91 | ? Click Here |
| ? Interactive Brokers | ☑️ Yes | $0 USD | 0.6 | ? Click Here |
| ? Forex.com | ✅ Yes | $100 USD | 1.0 | ? Click Here |
| ? IG | ☑️ Yes | $0 USD | 0.6 | ? Click Here |
| ? Oanda | ✅ Yes | $0 USD | 1.26 | ? Click Here |
| ? Pepperstone | ☑️ Yes | $200 USD | 0.77 | ? Click Here |
| ? FP Markets | ✅ Yes | $100 USD | 1.2 | ? Click Here |
| ? ThinkMarkets | ☑️ Yes | $0 USD | 0.4 | ? Click Here |
| ? IC Markets | ✅ Yes | $200 USD | 0.62 | ? Click Here |
| ? eToro | ☑️ Yes | $50 USD | 0.1 | ? Click Here |
Australian Securities & Investments Commission (ASIC) – Definition
The Australian Securities and Investments Commission, also known as ASIC, is the regulator of Australia’s markets and financial services.
10 Best ASIC Regulated Forex Brokers (2023)
- AvaTrade – Overall, Best ASIC Regulated Forex Broker.
- Interactive Brokers – Low Deposit ASIC Broker.
- Forex.com – Best ASIC Regulated Broker for U.S Traders.
- IG – Award-Winning ASIC Regulated Forex Broker.
- Oanda – Excellent Technical Tools.
- Pepperstone – Best MetaTrader4 Forex Broker.
- FP Markets – High User Trust Score.
- ThinkMarkets – Wide Product Range.
- IC Markets – Best Mobile Trading Experience.
- eToro – Best Globally Regulated Broker.
AvaTrade
AvaTrade allows investors to trade CFDs on FX, Stocks, Commodities, Crypto, Indices & Options with tight spreads, low/no commissions, leverage of up to 400:1, and instant execution.
AvaTrade Overview
| ? Broker | ? AvaTrade |
| ? FSCA regulated | ☑️ Yes |
| ?Bonus | ✅ Yes |
| ?Trust Score | 94% |
| ?Live support | 24/5 |
| ? MetaTrader 4 (MT4) | ☑️ Yes |
| ? MetaTrader 5 (MT5) | ✅ Yes |
| ?Trading Islamic Account | ☑️ Yes |
| ?CFDs – Total Offered | 681 |
| ? Spreads | 0,9 pips |
| ? Withdrawal fee amount | Zero |
| ? Trading fees class | Very Low |
| ✔️ Scalping Allowed | ☑️ Yes |
| ? Open a account | ? Click Here |
AvaTrade Pros and Cons
| ✔️ Pros | ❌ Cons |
| Easy and fast account opening | Limited product portfolio |
| Great educational tools | Poor support telephonically |
| No withdrawal fee | Administration fee |
| Free deposit and withdrawal options | Inactivity fee |
| Low trading fees | Offers only CFD’s, Forex, and Cryptocurrencies |
Interactive Brokers
Interactive Brokers offer their clients access to a transparent trading environment, low commissions, and excellent financing rates.
Interactive Brokers Overview
| ? Broker | ? Interactive Brokers |
| ? Min. Deposit | $0 USD |
| ☪️ Islamic Account | ✅ Yes |
| ? Demo Account | ☑️ Yes |
| ? Max Leverage | 1:5 – 1:400 |
| ✴️ Institutional Accounts | ✅ Yes |
| ??? Managed Accounts | ☑️ Yes |
| ? Open an Account | ? Click Here |
Interactive Brokers Pros and Cons
| ✔️ Pros | ❌ Cons |
| Wide range of products | Extremely complex desktop trading platform |
| Many great research tools | Complicated account opening process |
| Regulated by several authorities | High inactivity fee |
Forex.com
FOREX.com is a global FX and CFD broker that meets the highest standards of corporate governance, financial reporting, and disclosure.
Forex.com Overview
| ? Broker | ? Forex.com |
| ? Min. Deposit | $100 USD / R1600 ZAR |
| ? Spreads from | 0.1 |
| ? Commissions | Yes |
| ▶️ Forex | $5 USD per round lot |
| ▶️ CFDs/DMA | $0.18 USD per share (US Stocks) |
| ? Inactivity Fee | $15 monthly after 12 months |
| ? Deposit Fee | Third-Party |
| ? Withdrawal Fee | Third-Party |
| ? Trading Platforms | MT4 / MT5 / Proprietary |
| ? Demo Account | Yes |
| ☪️ Islamic Account | No |
Forex.com Pros and Cons
| ✔️ Pros | ❌ Cons |
| Low Forex Fees | Limited to Forex and CFDs |
| Variety of Currency Pairs | High Stock CFD fees |
| Diverse technical tools | Not user friendly |
IG
IG is a leading online trading provider that offers access to the financial markets through intuitive platforms and apps.
IG Overview
| ? Broker | ✅ IG Group |
| ? Trading Fee Class | High |
| ? Inactivity Fee | ✔️ Yes |
| ? Minimum Deposit | $140 USD / R2000 ZAR |
| ? Base currencies | 6 |
| ✅ Demo Accounts | ✔️ Yes |
| ? Products Offered | ETF, Forex, Options |
| ? Open an Account | ? Click Here |
IG Pros and Cons
| ✔️ Pros | ❌ Cons |
| Excellent Web-Trading Platform | High Forex and Stock CFD Fees |
| Excellent Educational Tools | Limited Product Portfolio |
| Great Deposit and Withdrawal options | Slow Customer Support |
| ? Open an Account | ? Click Here |
Oanda
Oanda is a trusted global service provider that is known for its reputable reputation and quality market research.
Oanda Overview
| ? Broker | ? Oanda |
| ? Min. Deposit | $0 USD |
| ? Demo Account | ✅ Yes |
| 4️⃣ MetaTrader4 | ✅ Yes |
| ⛔ Stop Loss | ✅ Yes |
| ? Open an Account | ? Click Here |
Oanda Pros and Cons
| ✔️ Pros | ❌ Cons |
| Easy and quick digital account opening | Only FX and CFDs |
| Low Forex Fees | High withdrawal fees for bank transfers |
| Web trading platform is easy to use | Poor customer service |
| No withdrawal fees in most cases | ID verification can slow down account opening |
Pepperstone
Pepperstone is an Australian-based Forex service provider that offers access to Razor Sharp spreads, Fast execution, and 1200+ CFDs to trade.
Pepperstone Overview
| ? Broker | ? Pepperstone |
| ? Regulation | FCA, ASIC and AFSL |
| ?AFSL No | 414530 |
| ?FCA no | 684312 |
| ? Demo Account | ☑️ Yes |
| ? Minimum Deposit | $10 USD |
| ? Bonus | No |
| ☪️ Islamic account | ✅ Yes |
| ? Institutional Accounts | ☑️ Yes |
| ? Managed Accounts | ✅ Yes |
| ? Maximum Leverage | 1:200 |
| ? Open an Account | ? Click Here |
Pepperstone Pros and Cons
| ✅ Pros | ❎ Cons |
| Fast Account Opening | Mostly CFDs Offered |
| Excellent Customer Support | Basic MetaTrader Platform |
FP Markets
FP Markets is an Australian-based, multi-asset broker that offers access to CFDs across Forex, Shares, Indices, Commodities & Cryptocurrencies.
FP Markets Overview
| ? Broker | ? FP Markets |
| ? Regulation | CySEC, ASIC |
| ☪️ Islamic account | ✅ Yes |
| ? Demo Account | ✅ Yes |
| ? Institutional Accounts | No |
| ? Managed Accounts | No |
| ? Maximum Leverage | 1:400 |
| ? Minimum Deposit | $100 USD |
| Open an Account | ? Click Here |
FP Markets Pros and Cons
| ✔️ Pros | ❌ Cons |
| Easy and fast account opening | Limited product portfolio |
| Low trading fees | High CFD fees |
| Fast execution of trades | High minimum deposit |
| Low Forex fees | High fee for international bank withdrawal |
ThinkMarkets
ThinkMarkets is a premium multi-asset online brokerage that offers access to Tight Spreads, Fast Execution and a wide range of markets.
ThinkMarkets Overview
| ? Broker | ? ThinkMarkets |
| ? Minimum Deposit | $0 USD |
| ? Demo Account | ✅ Yes |
| ☪️ Islamic Account | On Request |
| ? Joint Account | On Request |
| 4️⃣ MetaTrader4 | ✅ Yes |
| ? Live Support | ✅ Yes |
| ? Commission | Variable |
| ? Spreads from | 0 Pips |
| ? Leverage | 500:1 |
| ? Max Trade Size | 50 – 100 Lots |
| ❤️ Account Manager | Selected Accounts |
| ? ThinkTrader®️ | ✅ Yes |
| ? Open an Account | ? Click Here |
ThinkMarkets Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated Forex broker | Currency conversion fees will apply for some deposits |
| The broker offers tight spreads across all of its asset classes | Commissions charged on the ThinkZero Account |
IC Markets
IC Markets is a market-leading Forex CFD provider that offers trading solutions and access to cutting-edge trading platforms, low latency connectivity, and superior liquidity.
IC Markets Overview
| ? Broker | ? IC Markets |
| ? Regulation | ASIC |
| ☪️ Islamic account (swap-free) | ✔️ Yes |
| ? Demo Account | ✔️ Yes |
| ? Bonus | No Sign-up Bonus |
| ✴️ Institutional Accounts | ❌ No |
| ??? Managed Accounts | ❌ No |
| ? Maximum Leverage | 1:500 |
| ? Minimum Deposit | $200 USD |
| ? Open an Account | ? Click Here |
IC Markets Pros and Cons
| ✅ Pros | ❎ Cons |
| Low Forex Fees | Limited Product Selection |
| Easy Account Opening | Slow Chat Response |
eToro
eToro is a world leading social investment network that offers access to top instruments, zero commissions and trustworthy customer support.
eToro Overview
| ? Broker | ? eToro |
| ? Regulation | FCA, ASIC, CySEC |
| ☪️ Islamic account | ☑️ Yes |
| ? Demo Account | ✅ Yes |
| ? Institutional Accounts | No |
| ? Managed Accounts | ☑️ Yes |
| ? Maximum Leverage | 20:1 |
| ? Minimum Deposit | $50 USD |
| ? Open an Account | ?Click Here |
eToro Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated by top market regulators | US clients not accepted |
| Client funds kept in segregated accounts | MetaTrader not provided |
| Commission-free trading | Scalping and hedging are not allowed |
| Traders can buy fractional shares | Inactivity fee charged after a year |
Conclusion
? Now it is your turn to participate:
➡️ Which ASIC Regulated Forex Broker from this list do you intend to test out?
➡️ What was the determining factor in your decision to engage with a certain broker?
➡️ Was it because of the Australian Securities & Investments Commission Regulation or the pros and cons?
? Regardless, please share your thoughts in the comments below.
You might also like: AvaTrade Review
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You might also like: Oanda Review
Disclaimer
Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader. Traders need to ensure that they understand their risk exposure and determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital.
Frequently Asked Questions
Who is ASIC?
The Australian Securities and Investments Commission, also known as ASIC, is the regulator of Australia’s markets and financial services.
What does ASIC do?
ASIC regulates the financial industry in Australia including banks, Forex, and financial institutions.
Which is the Best ASIC-Regulated Broker?
According to research, Avatrade is the best ASIC-regulated broker as it offers low spreads and a excellent range of trading platforms.
What are the advnatages of choosing an ASIC regulated Forex Broker?
ASIC regulated forex brokers keep client funds in segregated accounts.
What should I keep in my when choosing a ASIC regulated Forex Broker?
As with any broker choice, multiple factors should be taken into consideration. This includes Regualtion, range of markets and costs associated with trading.
Featured SA Shares Writer and Forex Analyst.
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